ICICI Bank has divested 18,000,000 equity shares of face value of Rs 10 each of ICICI Lombard General Insurance Company, representing 3.96% of its equity share capital at March 31, 2020, on the stock exchange for an approximate total consideration of Rs 22.50 billion. Following this, the Bank’s shareholding in ICICI Lombard General Insurance Company stands at approximately 51.9%.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.
